German Chancellor Angela Merkel is in Greece today for her first visit since the European debt crisis began. Greeks aren't laying out the welcome mat though, as masses come out to protest against German-led austerity.
Whispers and nameless sources this morning are signaling Spain is preparing to ask the European Central Bank for a sovereign bailout causing bond and equity markets in Europe to zig and zag throughout the day.
Marketplace's Stephen Beard says September is going to hold some big questions. Will the European Central Bank put together its rescue plan? Will Greece get its next chunk of money to allow it to stay in the euro?
Happiness is relative in Europe these days: Investors are cheering news the euro area's top economies did not turn in the abysmal results many had expected. Instead, things are just "garden-variety" bad.
Spain's borrowing costs are up to 7.5 percent -- the higest since it joined the euro. As a result of the regional crisis, Moody's announced today that it is poised to lower Germany's credit rating to AA.